Oil demand has improved and is seen continuing to improve into 2010, Qatari oil minister Abdullah bin Hamad Al Attiyah said Monday.
Oil demand has improved and is seen continuing to improve into 2010,
Qatari oil minister Abdullah bin Hamad Al Attiyah said Monday.
"We are seeing improvement on demand from
Asia
,"
Attiyah said, as he arrived in
Angola
ahead
of a Tuesday meeting of the Organization of Petroleum Exporting Countries.
Attiyah, however, said that he has yet to see improvement in oil demand from
the
U.S.
and
Europe
. "We
are hoping that demand from the
U.S.
and
Europe
will
be better by the end of 2010."
The Qatari oil minister also said that OPEC is expected to leave current crude
oil output unchanged when it meets Tuesday. "This is my own opinion,"
he told reporters shortly after arriving in
Luanda
.
OPEC oil ministers are widely expected to leave the group's output quotas
unchanged Tuesday, as oil prices are trading at comfortable levels.
Earlier this month, the International Energy Agency, which represents the
world's most industrialized countries, also said that it expects oil demand
will grow in 2010 by more than it had previously expected.
The IEA's forecast coincided with a raft of recent Chinese economic
data--including a report showing industrial activity rising by 19% in
November--that helped to explain the Paris-based agency's rosier outlook on the
Asian giant and on world crude consumption.
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